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Communities & CSR

Arauca assigns US$26.4M in royalties

From a MinMinas press release. Translated and with commentary by Hydrocarbons Colombia.

MME, Bogotá DC, October 1, 2012. Thirty eight investment projects in transport, health, education, culture, environmental and agricultural development, among others, were approved by the College of Management and Decision (OCAD) held in the department of Arauca.

Wednesday, October 3rd, 2012
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Gold Oil publishes 1H2012 results — Looking for partners?

Gold Oil published its 1H2012 results and it is clear that it needs partners quickly. The company has an interest in the Azar block (operated by Gran Tierra) and operates the Nancy Burdine block under an arrangement with Ecopetrol. Both blocks are in Putumayo. The company also has interests in Peru.

Tuesday, October 2nd, 2012
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Petroleum workers union calls for industry-wide strike in Meta October 3, 2012

The Colombian Petroleum Workers Union (USO) has called for an industry-wide strike or day of protest in the oil-important department of Meta on October 3, 2012. The union is in a bitter battle with CEPCOLSA and its subcontractor Termtecnica Coindustrial but has been trying to widen the dispute to include Pacific Rubiales. A few weeks ago, it told reporters from RCN Radio that riots in the city of Puerto Gaitan were directed at the company, something that spokesperson Ferderico Restrepo had to deny publicly. The union says the march, strike or day of protest has the goal of raising awareness on the following:

Thursday, September 27th, 2012
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Ecopetrol and Pacific Rubiales rated highly for sustainability

Colombia’s two largest oil and gas companies scored well in the Dow Jones Sustainability Index-World as compiled by the Swiss firmSustainable Asset Management (SAM)In a press release, Ecopetrol announced that

Thursday, September 20th, 2012
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Rising tide of community violence affects operators in southern Meta

Yesterday violent protests in Puerto Gaitan, Meta left 3 dead. RCN Radio — which usually takes a “right-of-center” stance — reported that the protests were because Pacific Rubiales had “failed to deliver on its commitments”. UPDATE: On September 17th, Pacific Rubiales Corporate Affairs Director, Frederico Restrepo told RCN Radio that the protests were not directed at the company but caused by the death of a small child in a traffic accident with a policeman.

Monday, September 17th, 2012
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MinAmbiente: Community involvement is key in environmental conflicts

From an Environment Ministry press release. Translated and with commentary by Hydrocarbons Colombia.

Monday, September 17th, 2012
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New project in Colombia’s Congress could take US$1 / barrel off operating profits

Business newspaper Portafolio reports that a project sponsored by high-profile congressman Simón Gaviria and colleague Jaime Rodríguez would allow municipalities to charge mining and hydrocarbons companies a local “Industry and Commerce” tax known as ICA.

Thursday, September 13th, 2012
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Petrominerales reports lower August production, exploration update

Petrominerales reports lower August production, exploration update

Source: Petrominerales, Hydrocarbons Colombia.
In a press release, Petrominerales provided an update on production and exploration. The production summary can be seen in the chart: yet another month of lower production this time 8% month over month. The company did not provide a zonal breakdown as they did in their 2Q12 results. However the company did explain the August results precisely in terms of

Thursday, September 13th, 2012
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